China Foreign Exchange Trading System
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| China Foreign Exchange Trading System | |
| Founded | 1994 |
|---|---|
| Headquarters | Shanghai, Head Office; Beijing, Back-up Center; and 18 sub-centers |
| Key People | Xie Duo, President; Li Yu, Dou Jianzhong, Pei Chuanzhi, Vice Presidents |
| Products | RMB/ foreign currency spot trading, Foreign currency/ foreign currency spot trading, Foreign currency/ foreign currency spot trading, RMB interbank lending, RMB bond trading |
| Web site | http://www.chinamoney.com.cn/column/english/index.html |
The China Foreign Exchange Trading System (CFETS) & National Interbank Funding Center is an institution under direct control of the People's Bank of China. The CFETS' main functions are: interbank foreign exchange trading, RMB interbank lending, bond trading system, and the organization of interbank foreign exchange transactions. The CFETS also provides fund settlement for foreign exchange transatioins, delivery, settlement services for RMB interbank lending and bond trading, prompted online bill pricing system, information services for foreign exchange, bond and money markets, and the develoment of other businesses under approval of the People's Bank of China.
Contents |
History
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The CFETS was established in April 1994, and according to the strategic plan of the People's Bank of China and State Administration of Foreign Exchange, implemented "multiple technological means and trading patterns to meet market demands of various levels." The CFETs introduced foreing exchange trading system in April 1994, RMB credit lending system in January 1996, interbank bond trading in June 1997, transaction information system, and the China Money website in June 2000. In July 2001, the pilot program for RMB voice broking was introduced, and in October 2001, "China Money" magazine was published. In June 2002, foreign exchange lending broking services started, and in June 2003, the paper quotation system was introduced through www.chinacp.com.cn.
Structure
The CFETS is headquartered in Shanghai, with a backup center in Beijing and sub-centers in Guangzhou , Shenzhen, Tianjin, Jinan, Dalian, Nanjing, Xiamen, Qingdao, Wuhan, Chongqing, Chengdu, Zhuhai, Shantou, Fuzhou, Ningbo, Xi'an, Shenyang, and Haikou.
